State & Local Tax Policy To Watch In 2020
Jennifer Karpchuk discusses recent court decisions and tax trends and how they may shape state and local tax policies in 2020 in Law360. Jennifer explains how the Wayfair decision could impact income tax and how states may start to pass gross receipts taxes to help them avoid the limitations of their corporate income taxes.
“One of those limitations is that while the Interstate Income Act, popularly known as P.L. 86-272, is not as strong as it once was, it still may shield some business activity from the corporate income tax,” she said. “For states, gross receipts taxes are a nice little way to get around that.”
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